Aditya Birla Equity picks up stake in Creative Lifestyle

Aditya Birla Private Equity has picked up a minority stake in Creative Lifestyles, the flagship company of the Mumbai-based Creative Garments group.MUMBAI: Aditya BirlaPrivate Equity has picked up a minority stake in Creative Lifestyles, the flagship company of the Mumbai-based Creative Garments group.

Aditya Birla Private Equity has invested for a minority stake in Creative Lifestyles Pvt Ltd, with a valuation of over Rs 300 crore, the latter said in a statement issued here, without disclosing the consideration.

Aditya Birla Private Equity has invested through its Sunrise Fund. The consumption space to which Creative belongs is one of the four stated focus areas of the fund.

Creative Lifestyle was founded in 2006 and Birendra Agarwal teamed up with industry veteran Rahul Mehta to set up Creative Lifestyle to foray into women's branded apparel.

Commenting on the investment, D Muthukumaran, CEO of Aditya Birla Private Equity, said, "We are excited to be part of the growth story at Creative Lifestyle.

"In the last 9 years, the Creative team has built up a strong presence in women's branded apparel segment, which we believe has high potential for exponential growth in the coming years".

Birendra Agarwal, Chairman at Creative Lifestyle, stated, "We believe our partnership with Aditya Birla Private Equity will help in taking the company to the next level on the back of an impressive growth we have already achieved since inception in 2006.

"We will benefit from the right impetus, drive and experience and we are looking forward to working closely with the Aditya Birla team to fully exploit our potential."

The brand 109F, launched in 2006, which caters to casual western wear, has presence in over 366 retail outlets, including 35EBOs and 331 large format stores.

Fusion Beats, an indo western offering catering to the Indian women, launched in 2011-12, sells across 10 EBOs and 200 LFOs, the release said.